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Amplitude Energy (ASX:AEL) said Chair Ian Davies retired from the board effective Sept. 11, according to a same-day Australian bourse filing after market hours.Non-Executive Director Tim Bednall has been appointed acting chair of the board, while the process of selecting a permanent chair is well advanced, the filing added.
The domestic gas reservation scheme announced by the Australian government was "not as bad as it could have been," and it will introduce lower gas volumes into the domestic gas market than expected, RBC Capital Markets said in a Thursday note.The domestic gas reservation obligation requires a liquefied natural gas export license holder to supply a minimum total quantity of natural gas in a domestic gas market, equivalent to 20% of the LNG exported by the license holder from the market during the period. They may also meet the domestic supply obligation by supplying at least 90% of their minimum total quantity for a specific period, subject to certain requirements related to the remaining portion.RBC said it didn't agree with the government's estimate that LNG exporters could provide up to 200 petajoules of additional gas per year, because it assumed any spare volumes of gas in the East Coast LNG projects were exported as spot LNG, and not as domestic gas sales.The domestic gas reservation scheme's 20% requirement is net of existing LNG export license holders' contractual sales, infrastructure limitations, and existing gas reservation. This would be welcome relief for smaller cap Australian domestic gas focused stocks, such as Amplitude Energy (ASX:AEL), Beach Energy (ASX:BPT), Comet Ridge (ASX:COI), Strike Energy (ASX:STX), and Tamboran Resources (ASX:TBN).
The Australian government has released the Domestic Gas Reservation Bill 2026 for consultation, establishing Australia's first national domestic gas reservation scheme requiring gas exporters to supply a portion of their production to the domestic market.The bill proposes reserving up to 20% of gas exports for domestic use, with exporters able to provide up to 200 additional petajoules of gas per year, which Australian Minister for Climate Change and Energy Chris Bowen said is "more than enough" to avoid the Australian Energy Market Operator's forecast possible shortfalls of up to 140 petajoules.The licence application process will start from Jan. 1, 2027, with the domestic supply obligation starting from Jan. 1, 2028, to align with industry contracting cycles, while the exposure draft establishes a framework for how the reservation scheme will operate, including cost recovery and compliance and enforcement mechanisms.The Department of Industry, Science and Resources said the legislation supports the government's Future Made in Australia agenda, with the bill developed in response to the 2025 Gas Market Review and informed by more than 140 submissions received during earlier consultations.Santos (ASX:STO) Chief Executive Kevin Gallagher said in a Wednesday speech that while the oil and gas firm welcomes the policy, it should not force supply into an oversupplied market, and instead should allow the gas market to invest in bringing new supply online via price signals, recommending that the "must sell" provision be replaced with a "must offer on commercial terms" requirement.Gallagher argued that East Coast gas supply issues were caused by moratoriums and bans in New South Wales and Victoria over 15 years, which led to insufficient investment in new gas supply sources, adding that regulations should improve supply by incentivizing investment in new sources given that new investment is essential from 2030 to offset declining production at the Bass Strait.RBC Capital Markets said in a note that it views the legislation as a welcome relief to smaller cap Australian domestic gas-focused stocks, including Amplitude Energy (ASX:AEL), Beach Energy (ASX:BPT), Comet Ridge (ASX:COI), Strike Energy (ASX:STX), and Tamboran Resources (ASX:TBN).However, RBC said it does not agree with the government's estimate that the scheme would avoid the forecasted shortfalls, as the estimate assumes any spare volumes of gas in east coast liquefied natural gas projects are exported as spot LNG rather than sold domestically.
Amplitude Energy's (ASX:AEL) Juliet-1 exploration well in the Offshore Otway Basin has successfully reached its target depth of 2,199 meters true vertical depth subsea, encountering hydrocarbons in the primary Waarre C reservoir, according to a Thursday filing with the Australian bourse.Preliminary wireline data indicate excellent reservoir quality, high deliverability, and carbon dioxide concentrations of less than 2 mole percent, per the filing.The well is ahead of schedule and under budget, with completion and clean-up activities expected to conclude within the next two weeks before it is suspended for potential development under the East Coast Supply Project, the filing added.
Amplitude Energy (ASX:AEL) has an average rating of buy and mean price target of AU$2.47, according to analysts polled by FactSet.
Amplitude Energy's (ASX:AEL) Juliet exploration well in the offshore Otway Basin seems to be leading to a commercial discovery, based on the data collected, Jarden said in a Tuesday note.The Juliet-1 8 1/2-inch hole section penetrated the primary Waarre C reservoir target and reached a total depth of 2,299 meters true vertical depth subsea, with initial drilling and logging data showing elevated gas readingsGas was intersected at Juliet, in which Amplitude holds a 50% interest. The firm will conduct wireline testing of the reservoir in the coming days to provide pressure data, informing resource estimates and the decision to complete the well.The investment firm retained its overweight rating and raised its price target to AU$2.03 per share from AU$1.85 per share on Amplitude Energy.
Australian shares declined on Tuesday as oil prices continued to climb.The S&P/ASX 200 Index fell by 1%, or 90.10 points, to close at 8,920.80.Brent crude oil futures rose further to trade around $97 per barrel, with the Middle East conflict no closer to a resolution.Trading on Wall Street was closed for a public holiday.On the domestic front, Australian consumer confidence fell to its lowest level since late July last week as the ANZ-Roy Morgan Australian consumer confidence fell 3 points to 71.9 in the week of Aug. 31 to Sept. 6.Australia's Westpac-Melbourne Institute Consumer Sentiment Index fell 5.2% to 84.4 in September from 88.9 in August, as higher fuel prices, rate rise fears, and a housing downturn weighed on consumers.Business conditions in Australia fell 5 points to negative 1 in August, the lowest level since August 2020, as slowing activity and persistent cost pressures weighed on businesses, National Australia Bank said.In company news, Amplitude Energy (ASX:AEL) intersected a high-quality gas-bearing reservoir at the Juliet-1 exploration well in the Offshore Otway Basin, Victoria.Select Harvests (ASX:SHV) now expects a 2026 crop size of 28,800 to 29,600 metric tonnes, down from previous guidance of 28,000 to 31,000 metric tonnes, describing the result as "exceptional" given the unusually wet weather in late February and early March.Lastly, Sunrise Energy Metals (ASX:SRL) logged AU$0.11 in loss per share for fiscal 2026, compared with a loss of AU$0.07 per share a year ago.
Amplitude Energy's (ASX:AEL) intersection of a gas-bearing reservoir offshore Victoria is a "strong result" that de-risks the Juliet-1 exploration prospect into a proven gas discovery, Euroz Hartleys said in a Tuesday note.The well intersected the primary Waarre C reservoir at 2,129 meters true vertical depth subsea, recording elevated gas readings coincident with heightened resistivity and confirming a gas-bearing reservoir.The reservoir's quality and thickness are in line with pre-drill expectations, and the well is currently ahead of schedule and budget, the equity research firm said."With exploration success now achieved, we expect to remove the exploration risk weighting applied to Juliet in our valuation, subject to the upcoming resource and well evaluation work," Euroz Hartleys said.The firm maintained a buy recommendation for Amplitude Energy on valuation grounds, with its price target of AU$2.80 per share under review.Amplitude Energy shares jumped 12% in recent Tuesday trade.
Amplitude Energy (ASX:AEL) intersected a high-quality gas-bearing reservoir at the Juliet-1 exploration well in the Offshore Otway Basin, Victoria, according to a Tuesday filing with the Australian bourse.The Juliet-1 8 1/2-inch hole section penetrated the primary Waarre C reservoir target and reached a total depth of 2,299 meters true vertical depth subsea, with initial drilling and logging data showing elevated gas readings, the filing said.Wireline logging operations will be conducted over the coming days to inform resource volume estimates and determine initial gas composition, per the filing.Shares rose 8% in morning trade Tuesday.
Amplitude Energy (ASX:AEL) said it started drilling at the Juliet-1 exploration well located off the coast of Victoria as part of its East Coast Supply Project campaign, according to a Monday filing with the Australian bourse.Amplitude holds a 50% interest in the VIC/L24 permit, which contains the Juliet prospect, with the remaining 50% held by joint venture partner O.G. Energy, per the filing.Juliet-1 is expected to take 20 to 25 days to drill to a planned maximum total depth of around 2,300 meters true vertical depth subsea. The well is targeting 48.8 billion cubic feet in gross mean prospective resource from a Waarre C reservoir target, the company said.Its shares fell 1% in recent Monday trade.
Amplitude Energy (ASX:AEL) said its 2P gas and oil reserves as of June 30 are assessed at 26.7 million barrels of oil equivalent (MMboe), compared with 31.1 MMboe at the same time last year, according to a Tuesday Australian bourse filing.The company said 1P proved total reserves were 16.4 MMboe, compared with 20.7 MMboe last year, while 3P proved, probable, and possible reserves stood at 36.1 MMboe.
Amplitude Energy (ASX:AEL) Chairman Ian Davies plans to retire from the company's board to focus on his other board and executive commitments, according to a Monday filing with the Australian bourse.Davies will remain as chairman for a period to facilitate a transition, and the company said it launched a process to select a successor.
Amplitude Energy (ASX:AEL) could see potential upgrades if strong production levels at its Orbost gas plant persist, Euroz Hartleys said in a note on Thursday.Greater policy certainty around the Federal Government's gas reservation scheme, along with success at its Juliet exploration well, could improve market sentiment and support a re-rating from current share price levels.Investors are closely watching developments related to the East Coast Supply Project, with a Final Investment Decision targeted for the first quarter of fiscal 2027. The project is expected to strengthen Amplitude Energy's earnings by utilizing spare capacity at the Athena Gas Plant.Euroz Hartleys reaffirmed a buy rating but lowered the price target to AU$3.03 from AU$3.10.
Amplitude Energy (ASX:AEL) reported record annual production of 27.6 petajoule equivalent for fiscal year 2026, up 3% from fiscal year 2025, according to a Wednesday filing with the Australian bourse.The company also reported fiscal year 2026 revenue of AU$285.8 million, an increase of 7% from the previous fiscal year, per the filing.Amplitude's Orbost Gas Processing Plant recorded fiscal 2026 production of 24.3 petajoules, up 7% on fiscal 2025.In the June quarter, the company's production fell to 6.81 petajoule equivalent from 7 petajoule equivalent a year earlier, while sales revenue declined to AU$70.3 million from AU$70.7 million.
Amplitude Energy's (ASX:AEL) stock price seems to have been impacted by market sentiment over the Australian government's proposed gas reservation scheme policy amid weak spot gas prices through the fourth quarter of fiscal year 2026, Euroz Hartleys said in a Thursday note.The policy uncertainty has overshadowed record daily and weekly production rates at the company's Orbost gas processing facility in Victoria, the investment firm said.The government's proposal created fears of weaker gas prices due to a manufactured oversupply of domestic gas, with Amplitude warning that the domestic supply obligation would soften the long-term contracts that fund new supply.Amplitude's "base business is performing exceptionally well given record production rates at Orbost," Euroz Hartleys said, adding that it forecasts continued earnings growth for the company over the medium term from rising term prices and production debottlenecking.The equity research firm lowered its fiscal year 2026 revenue forecast for Amplitude to AU$287 million from AU$299 million after incorporating lower spot gas prices into its estimates.Euroz Hartleys maintained a buy recommendation on Amplitude while lowering the price target to AU$3.10 per share from AU$3.54, reflecting an updated risked sum-of-the-parts valuation.The company's shares gained 1% in recent Friday trade.
Beach Energy's (ASX:BPT) sale of its 60% stake in the Artisan gas field offshore the Otway Basin in Victoria is a "sensible divestment" and a "rare win-win" deal, Euroz Hartleys said in a Monday note.Beach Energy agreed to sell a 50% interest in the gas field to Amplitude Energy (ASX:AEL) and a 10% interest to O.G. Energy to align both acquirers' overall interest at 50% each.The company also said the La Bella-2 development well will not be drilled, and forecast more than AU$500 million of capital expenditure savings as a result of not pursuing developments at Artisan and La Bella.Amplitude Energy's involvement eliminates the risk of exploration outcomes resulting in the need for expensive carbon dioxide processing capability, while Beach Energy retains future exposure to production through a royalty, Euroz Hartleys said.Given Beach Energy's AU$974 million of liquidity at the close of the fiscal third quarter, the deal provides pro-forma liquidity in excess of AU$1 billion, positioning the company well to pursue inorganic growth of scale in the near-term, the equity research firm said.Euroz Hartleys maintained a hold recommendation on Beach Energy while lowering the price target to AU$1.12 per share from AU$1.15 based on an updated sum-of-the-parts valuation.
Amplitude Energy's (ASX:AEL) acquisition of 50% of the Artisan gas field in the offshore Otway Basin from Beach Energy (ASX:BPT) de-risks the Otway growth outlook for the company, Euroz Hartleys said in a Monday note.O.G. Energy, Amplitude Energy's joint venture partner in the Otway, agreed to acquire a 10% interest in the gas field on the same terms as the company, aligning interests at 50% each.The company's net share of the acquisition consideration consists of an upfront cash payment of AU$58.3 million on completion of the agreement, with a royalty of AU$3.75 per gigajoule on its share of future production.The company can blend Artisan gas field's low-impurity gas with that of the Annie field to meet pipeline standards through the acquisition, saving an estimated AU$100 million in processing infrastructure costs, the financial services firm said.Additionally, the company is buying a de-risked completed production well that is ready to tie-in to its existing operated infrastructure.Euroz Hartleys maintained a buy recommendation on Amplitude Energy while its AU$3.40 price target is under review.Amplitude Energy shares rose more than 2% in afternoon trade on Monday, while Beach Energy shares were down 2%.
Australian shares are poised to fall on Monday as investors weigh renewed uncertainty over US-Iran talks, with progress on a potential deal to reopen the Strait of Hormuz and address Iran's nuclear program still unclear.Sentiment is also being pressured by a sharp slide in oil prices amid concerns that escalating tensions in the Middle East could still disrupt global shipping routes and weigh on growth.On May 22, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.4%, 0.2%, and 0.6%, respectively.In corporate news, Charter Hall Group (ASX:CHC) increased its fiscal year 2026 guidance for operating earnings to AU$1.03 per security from AU$1 previously.Beach Energy (ASX:BPT) agreed to sell its 50% interest in VIC/L35, containing the Artisan gas field in the offshore Otway Basin, to Amplitude Energy (ASX:AEL).Australia's benchmark index rose 0.4% or 35.3 points to close at 8,657 on May 22.
Beach Energy (ASX:BPT) agreed to sell its 50% interest in VIC/L35, containing the Artisan gas field in the offshore Otway Basin, to Amplitude Energy (ASX:AEL), according to a Monday filing with the Australian bourse.Additionally, O.G. Energy agreed to acquire a 10% interest in the gas field on the same terms as Amplitude Energy, aligning interests at 50% each, the filing said.Amplitude Energy's net share of the acquisition consideration consists of an upfront cash payment of AU$58.3 million upon completion of the agreement, with a royalty of AU$3.75 per gigajoule on its share of future production, per the filing.
Amplitude Energy (ASX:AEL) has secured the production license VIC/L37 covering the Annie gas field, with plans to commence first gas production by 2028, according to a Thursday Australian bourse filing.Gas from the field is expected to be supplied to Australia's east coast domestic market for local consumers, the filing added.The company's shares rose 2% in recent Thursday trade.
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